Rio Nuevo Board Unanimously Approves Caterpillar Relocation Proposal

Rio Nuevo Board Unanimously Approves Caterpillar Relocation Proposal

In a one item Special Meeting, the Rio Nuevo Board unanimously approved the attached resolution that
contemplates (a) paying Caterpillar $2,000,000 in cash to offset its relocation costs, (b) reach an agreement with the City of Tucson to acquire the land selected by Caterpillar and (c) designing, building, constructing and leasing a headquarters building to Caterpillar for its Surface Mining
Division. The estimated budget for such design and construction is $50,000,000.

Subject to enforceable agreements between Caterpillar and the Arizona Commerce Authority and the Pima County Board of Supervisors, the Board will be soliciting bids for all aspects of the District’s participation in this Caterpillar relocation project.

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